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cryptosolo
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March 09, 2017, 05:55:23 AM
 #1

What are the threats for financial system from bitcoin?
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March 09, 2017, 06:01:33 AM
 #2

What are the threats for financial system from bitcoin?
Because a lot of the people are realizing if they can managing his financial. Too close from the centralised system and try to move into the decentralised system financial. it makes a freedom for everyone to do anything with his money. and it will give a bad impact on the financial system and especially for the bank.

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March 09, 2017, 06:18:31 AM
 #3

What are the threats for financial system from bitcoin?
To make the current financial system to a decentralized system? That's why some of the bitcoin enthusiast are thinking which I completely disagree with, it will not happen though it's a threat but it's not a big threat to the government. They have the power and they can regulate bitcoin to their favor.




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March 09, 2017, 07:29:32 AM
 #4

Theres no real threat for now. But in the future, thats a big maybe. For BTC and other cryptocurrencies to be a threat to the current financial system, there has to be a critical tipping point. This tipping point will be when users of cryptocurrencies have reached a massive amount of users that it cant be stopped. What I mean by users is real users who also set up nodes and users who use the coins for buying things they need and want, not users who buy BTC and hold like most of us.
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March 09, 2017, 07:32:05 AM
 #5

What are the threats for financial system from bitcoin?
The financial system for bitcoin are:
Decentralization; because of this nature or characteristic no single country or individual can control bitcoin it has live of it own.
Low fees; because of high fee charge by western union money transfer and moneygram etc. Bitcoin financial system come to resolve this by offer low fees on transactions.
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March 09, 2017, 08:01:10 AM
 #6

For security I think is not alarming enough, because of the large number of people who once tried to take over the bitcoin (System). Finally they gave up and could not enter the system on its own, it's just bitcoin security of each wallet which had to be tightened. for every wallet has a password which is only owned by their owners, making it prone to be hacking. It is in terms of security, in terms of development if the (price). I think the price will be the same year bitcoin previously (up and down). but it is not bad to have an impact, because every turunya prices there will surely be bitcoin's time to ride high
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March 09, 2017, 08:03:43 AM
 #7

Bitcoin takes away the control that the financial have. This same control gives them the ability to decide who gets what, at what price, and under what conditions. The financial players and regulators see the decentralization of bitcoin as a major threat, and they will continually seek out ways to bring bitcoin into 'subjection'

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March 09, 2017, 08:25:49 AM
 #8

What are the threats for financial system from bitcoin?
The financial system for bitcoin are:
Decentralization; because of this nature or characteristic no single country or individual can control bitcoin it has live of it own.
Low fees; because of high fee charge by western union money transfer and moneygram etc. Bitcoin financial system come to resolve this by offer low fees on transactions.
That strength of bitcoin has never threaten the current financial system under a centralized system controlled by the government, in fact they are interested with the blockchain technology and they will probably gonna copy it. Even how good that system is, there is no one that will replace the government as they are the most powerful in this world and they run our countries. So, let's not think bitcoin will change the world because of its strength and it will never happen.




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March 09, 2017, 08:31:57 AM
 #9

I would say that bitcoin pose no real danger to the financial system. In my opinion the bitcoin as the alternative to the financial system just gives the idea about how many people are discontented with the fiat status quo. Ofcourse showing discontency is in itself destabilising for the system that is based on the faith - fiat.  

There is a small additional threat to the fiat financial system. There is a disconnection of real money (of bitcoiners) from the system, that before the existance of bitcoin had provided the liquidity on the markets. That can pose additional destabilisation to the system that need to print more fake money to compensate for the loss of liquidity of money leaving the system.

You can say that bitcoin provides more destabilization to already very unstable system. The system is meant to fall. Every expert on the subject is completly amazed how long does this unstable fiat financial system works. It should have failed a long time ago.
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March 09, 2017, 09:41:04 AM
 #10

What are the threats for financial system from bitcoin?

Simple, they'd be rendered obsolete by Bitcoin in the near future because they are failing to be innovative.
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March 09, 2017, 10:02:40 AM
 #11

bitcoin will be a threat to the bank world when people will acknowledge bitcoin and start to use for shopping, this will happen when amazon will begin to accept bitcoin, and when many people will get rid of their card and get rid of paypal account and other service liek paypal, if thse service beign to fall bitcoin will be a success
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March 09, 2017, 11:33:15 AM
 #12

What are the threats for financial system from bitcoin?

Financial system is a very complex kind of system and even bitcoin is also a part of that. But if we want to really look into the details bitcoin is not a threat to the traditional financial system rather it will help in solving many problems that underlies the fiat financial system. Due to this some countries are already studying bitcoins due to its potential in the financial payment system.
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March 09, 2017, 12:30:51 PM
 #13

What are the threats for financial system from bitcoin?

The threats? That there is a system out there they can not have any control of, pull the plug, and what's most threatening for those elites, everybody around the world can have access to it!
Banks made a fortune over several hundreds of years and were the financial gods! They decided, together with the politicians, how wealthy and properous the rest of us were allowed to live.With open decentraized cryptocurrencies there is a small possibility to escape out of that cage!
This doesn't mean you will not have to follow the rules, but cryptos may give you a chance to live with more independence and financial freedom.
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March 09, 2017, 01:13:41 PM
 #14

What are the threats for financial system from bitcoin?

There are lots but to me the main treat is the loss of control over what the general public do with their money.  Especially from fees for world wide remittance which is a massive industry.
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March 09, 2017, 02:11:17 PM
 #15

What are the threats for financial system from bitcoin?

There are lots but to me the main treat is the loss of control over what the general public do with their money.  Especially from fees for world wide remittance which is a massive industry.

Treats means some kind of rewarding food. Just saying. Cheesy

Anyway, financial systems in governments don't really have that much influence over the financial system of the country it is in. What they do to promote some aspect of the system is that they offer some kind of incentives for some action. For example, if they want to lower money in circulations, they raise interest on treasury bonds. This cannot be done in bitcoin, but the problem is that bitcoins are just driven by supply and demand. It is not backed up by anything. That is why the prices of these are just fluctuating so much.
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March 09, 2017, 04:58:03 PM
 #16

I don't think it's much problem for the government since they are GOVERNMENT, they can regulate it if they want to and whatever happens, they'll get a slice of the pie. The financial institutions that might be affected would be bank. Imagine if people just store their wealth in bitcoins in their hardware wallets. That's a lot of money out of the banks hands. That would still be many years from now though and banks still have services that are still in infancy in bitcoin, for example loans.

<|°_°|>
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March 10, 2017, 07:26:06 AM
 #17

What are the threats for financial system from bitcoin?

For me bitcoin is giving us a way to financial freedom in the long run, by simply keeping some of bitcoins because it is unregulated decentralization, which means we are the one, we are the key also to make our savings be in progress someday once the price increase like a skyrocket going to the moon. Grin

           
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el kaka22
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March 10, 2017, 10:25:17 AM
 #18

What are the threats for financial system from bitcoin?

For me bitcoin is giving us a way to financial freedom in the long run, by simply keeping some of bitcoins because it is unregulated decentralization, which means we are the one, we are the key also to make our savings be in progress someday once the price increase like a skyrocket going to the moon. Grin
Yes, I am also not finding any threats from bitcoin to individual people's economy as well as for a nation's. Bitcoin is just a payment system like what the had in the past like Liberty reserve or currently what we are using like Paypal. Additional to these payment systems, bitcoin has some unique features that does not mean bitcoin will disturb financial system of the country nor an individual person.

People are finding financial freedom by saving bitcoin. I believe this benefit from bitcoin will be available for every person for at least next hundred years. So, there will be no meaning of suspecting about bitcoin's potential and features.


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batang_bitcoin
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March 10, 2017, 10:32:28 AM
 #19

What are the threats for financial system from bitcoin?

I can't picture it out what will be the financial threat from bitcoin if the government is going to limit the usage of crypto in their jurisdiction. They can simply create a bill that limiting people who uses bitcoin. It's also decentralized that's why it will not be a threat to the financial system, maybe there's one threat, I guess with taxation.
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March 10, 2017, 11:15:03 AM
 #20

What are the threats for financial system from bitcoin?

Simple, they'd be rendered obsolete by Bitcoin in the near future because they are failing to be innovative.

The main thing is control, to say obsolete means Bitcoin too is obsolete because Bitcoin derived its value from the fiat currency which is created by this system. Also most of these guys running this system are the very best in their field

          
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